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HomeMy WebLinkAboutResolution 2000-82RESOLUTION 2000-82 BEING A RESOLUTION ESTABLISHING RESTRICTIVE ACCOUNTS FOR EXCESS FIRE PENSION RESIDUAL ASSETS AND ADOPTING A PLAN FOR THE EXPENDITURE OF SUCH ASSETS WHEREAS, Minnesota Law 1999 Chapter 222, titled Omnibus Retirement Bill, has made substantial changes to public employee pensions in Minnesota, including the total merger of Columbia Heights Fire Pension Plan; and WHEREAS, one of these changes permits the return of the excess funding from the fire consolidation account to the local jurisdiction; and WHEREAS, the portion of excess funding available for return to the City of Columbia Heights is approximately $678,958, WHEREAS, the city of Columbia Heights has held an advertised public hearing on November 27, 2000, at which public hearing the proposed use of the fire residual assets were discussed and a spending plan approved. NOW THEREFORE BE IT RESOLVED that the City of Columbia Heights, Minnesota, adopts the following plan for the receipt and use of these excess fund assets. The excess funds may be used to assist the Fire Department in the funding of the Fire Capital Outlay fund. 2. The excess funds may also be used to assist the Fire Department in funding the Purchase of a new SUV. Dated this 27th Day of November, 2000 Offered by: Jolly Second by: Szurek Roll Call: All ayes ~atricia Muscovitz, Deputy CityJ~lerk